Miklos Vasarhelyi

Innovations in data collecting take jobs of auditors in new directions

Friday, April 11, 2014
Melbourne, Australia

Around the world there’s a gradual but fundamental shift in the role auditors are playing for their corporate clients. More and more they are being asked to peer through the raw numbers and uncover insights into how a company is being run, its strategy, and the efficiency of its business processes.

Auditors are, of course, still required to perform their foremost statutory role – signing off on the company’s accounts for the past financial year – but corporate clients are increasingly expecting them to do more.

While corporate clients are seeking more from their auditors, the profession is also coming under pressure from investors and governments to pass judgment on the health of a company and its viability.

Auditors can now do so much more than they did in the past, but there are questions on whether audit standards and the financial accounting framework have kept up with the changes.  The financial accounting reporting framework was developed in an era when collating and checking data was all done manually.

“It was basically a compromise based on the technology of the time on what you could measure and what you could verify,” says Professor Miklos Vasarhelyi, director of the Accounting Research Center at the Rutgers Business School in the US.

Vasarhelyi says these out-of-date standards are leading to a “bipolar” environment with regard to accounting and auditing. Inside corporations, management can access huge amounts of information. Yet they give only a very narrow set of data to the wider world.

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TAGS: Miklos Vasarhelyi Rutgers Accounting Research Center

American Accounting Association recognizes professor's work in growing field of Accounting and Information Systems

Tuesday, April 9, 2013

The American Accounting Association will present its prestigious Outstanding Educator Award to Rutgers Business School Professor Miklos Vasarhelyi, who has played a major role in establishing the field of Accounting & Information Systems.

TAGS: Accounting Alexander Kogan Awards Dan Palmon Miklos Vasarhelyi Rutgers Accounting Research Center

Professor Vasarhelyi to receive 2011 Joseph J. Wasserman Award

Monday, May 16, 2011

The Board of Directors at ISACA unanimously voted in favor of presenting the 2011 Joseph J. Wasserman Award to Rutgers Business School Professor Miklos Vasarhelyi in recognition of his outstanding achievements and contributions to the field of Information Systems. He will be presented the prestigious award at the ISACA Annual Gala on June 23, 2011 to celebrate his success. 

TAGS: Accounting Awards Information Systems Miklos Vasarhelyi

KPMG renews its support for Rutgers Business School's Continuous Assurance and Reporting Laboratory

Tuesday, February 22, 2011

NEWARK, NJ – KPMG LLP, the audit, tax and advisory firm, has renewed its support for Rutgers Business School’s Continuous Assurance and Reporting Laboratory (CAR-Lab). The research that has emerged out of this collaboration has spawned many new techniques and methods for “real time” financial reporting and auditing that is helping businesses improve their audit practices.

Continuous auditing and monitoring refers to companies utilizing timely, updated, audited information on demand.

TAGS: Accounting KPMG Miklos Vasarhelyi Partnerships

Professor Miklos Vasarhelyi wins prestigious 'Notable Contributions to the Literature' award

Friday, October 1, 2010

The Information Systems Section of the American Accounting Association selected Professor of Accounting, Business Ethics & Information Systems Miklos Vasarhelyi, PhD as the winner of the prestigious Notable Contributions to the Literature award. This significant honor was announced in a recent AAA convention in San Francisco.

TAGS: Accounting Awards Miklos Vasarhelyi

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